With a lot of cash and watching setups what is the next move?
Indexes are in mixed condition which I'll more to say about on the blog this weekend. But for SPX, it is set to open above 2HP and Q3P but below the JulP. According to my calculations the July pivot is 2728, only 10 points above. But the new HP and QP will cluster at 2707 and 2687 respectively.
Translation - resistance just above, support just below. Best - wait, at least for any position here.
VIX held MP which is a sign of caution but putting in divergence high and could not really launch above YR1.
There is a potential bullish resolution, but barring a huge gap it only takes 10 points to find out who wins for real.
SPX (with lines at these new pivot estimates) and VIX below.